Frequently Asked Questions
Frequently asked questions
Is it true that Power Ledger only has a peer-to-peer energy trading platform?
No. P2P trading is our most mature platform, however we also have a range diverse products already in action or well into the development stage.
xGrid
Peer-to-Peer electricity trading through the regulated electricity network (the grid)
μGrid
Peer-to-Peer electricity trading without the regulated electricity network (the grid)
Power Port
Electric Vehicle metering & settlement
C6+
Carbon Credits Trading
VPP 2.0
Virtual Power Plant 2.0
Regeneration
Asset Germination Events
I would like to get involved as a project partner or Application Host. Who should I contact?
Thanks for your interest! Please click on one of the products below and complete the attached form.
xGrid
Peer-to-Peer electricity trading through the regulated electricity network (the grid)
μGrid
Peer-to-Peer electricity trading without the regulated electricity network (the grid)
Power Port
Electric Vehicle metering & settlement
C6+
Carbon Credits Trading
VPP 2.0
Virtual Power Plant 2.0
Asset Germination Events
You can also email [email protected] with a full scope of the project and information about your business.
Are electricians currently equipped with the knowledge and resources required to adapt to this new electricity exchange?
Absolutely. If they can install a meter they are equipped to support the Power Ledger system. One of the goals of the Power Ledger platform is to work with existing infrastructure where possible. While this may result in new installations of equipment the knowledge required is already abundant within the industry.
Are you trying to replace utilities?
No. We're giving utilities the tools to keep consumers connected to the grid. We realised pretty quickly that if we were going to be the application host, that managed all of those trading environments, we'd need to grow to a company of millions to have the reach we want to have, which would destroy the value proposition for us.
We're focused on providing opportunities for energy consumption that don’t have the negative impacts of traditional generating technologies. Energy consumption has a direct correlation with economic growth so we see the Power Ledger platform as a facilitator of efficient and clean energy consumption that can continue to drive the economic development of communities around the world without the detrimental impacts of the traditional energy system.
Aren't you concerned about the price of POWR?
Power Ledger doesn't run on the value of its tokens. The business runs by providing an energy trading platform and service and the economy we've created drives the value of the token. POWR is a utility token, it has a role in the adoption of our technology. The better we do as a business the more the token-economy drives the value of POWR. We’re focused on the product, the platform, projects and our community - the rest will take care of itself.
Where can I buy POWR tokens?
To purchase POWR you will need to use an exchange or a broker. Currently, POWR is listed on the following exchanges:
Binance (https://www.binance.com/)
Bithumb (https://www.bithumb.com/)
Bittrex (mailto:https://bittrex.com/)
Coinspot (https://www.coinspot.com.au/)
Cryptopia (https://cryptopia.com.nz/)
Gate.io (https://gate.io/)
Huobi (https://www.huobi.pro/)
KuCoin (https://www.kucoin.com/)
Kyber (https://kyber.network/)
Lykke (https://www.lykke.com/)
TDAX (https://tdax.com/)
UpBit (https://upbit.com/)
What’s the difference between Sparkz and POWR?
POWR is the utility token that application hosts need to escrow in order to use our platform. It acts as a bond backing. Sparkz are the electricity credits the end consumer will interact with which is tied to local fiat.
Are you trying to replace utilities?
No. We're giving utilities the tools to keep consumers connected to the grid. We realised pretty quickly that if we were going to be the application host, that managed all of those trading environments, we'd need to grow to a company of millions to have the reach we want to have, which would destroy the value proposition for us.
We're focused on providing opportunities for energy consumption that don’t have the negative impacts of traditional generating technologies. Energy consumption has a direct correlation with economic growth so we see the Power Ledger platform as a facilitator of efficient and clean energy consumption that can continue to drive the economic development of communities around the world without the detrimental impacts of the traditional energy system.
How does Power Ledger make money?
Our holdings of POWR do act as a treasury that presents a real value opportunity for the business and the ongoing development and adoption of the platform but we can also charge a fee per kWh traded as revenue through the platform. With volume, remember the purpose of the platform is to give trading a global reach, our fee can be really small giving us a solid income but allowing the application host to retain most of the value.
More here.
How does Power Ledger physically move energy?
We're not trying to change the laws of physics, just trying to change the law of the market to enable it to reflect what’s actually happening in the system. What is happening is that the system is co-locating energy from one source to another. As a prosumer, the closer you are to the destination that is demanding energy, the more likely that’s where it will go.
What hardware does Power Ledger integrate with?
Power Ledger is a software-based transactive layer which doesn’t require any specific hardware component for deployment. All that is required to integrate with the platform is a smart meter and an intermediary capable of acting as an Application Host.
What if customers don't want to use cryptocurrency?
They are not required to. Application Host’s customers do not interact with the POWR token itself. Instead, customers purchase Sparkz through the Power Ledger Platform using local fiat currency. Sparkz are a cryptographic token that allows people to trade in our P2P network.
What's in it for energy companies?
Power Ledger wants to disrupt the energy industry, not destroy its value. There's a growing penetration of rooftop solar and batteries which is changing the energy landscape i.e. making it more expensive for those who stay on the grid. So networks need to find a way to keep people from defecting from the grid and retailers need to find ways of connecting with their customers -- which is what Power Ledger aims to do. We provide utilities with the tools they need in order to provide access to low-cost, low-carbon energy to their consumers, giving consumers a better return on investment while also keeping them connected to the grid.
What if EVERYONE gets solar panels?
There will always be people who, through no fault of their own, can't afford to participate in the distributed energy economy - renters, people suffering financial or social disadvantage, people whose roof is not orientated to benefit from solar exposure - and they deserve the same access to low-cost, low-carbon energy as the rest of the population. The other issue to consider is the sustainability of putting PV and storage on every person's roof to meet their peak demand rather than sharing capacity to meet the diversified peak demand across a large group of people.
For example, if John just looks after himself, he needs enough capacity to meet his peak demand. If he's sharing energy with a group of people, they're not likely to have a peak demand at the same time, so the amount of generating capacity they need to install is reduced if they're sharing it.
Can’t people already sell their surplus energy back to the grid?
Today, households with solar panels can sell their excess energy to a utility company, which then sells it to others at a profit. The energy goes back to the grid, and could travel pretty far before it reaches its final destination. So the seller is losing money, and the utility company is losing energy.
Since the system was modeled for only central players to feed the energy supply, consumers producing energy don't get fair value for their renewable investments. Power Ledger lets solar panel owners sell their energy to the customers nearest to them — so the energy doesn’t have to travel as far. You won’t have to deal with billing every 60 days like a traditional energy company because it happens instantly. One of the key benefits to P2P trading is that customers have more control over the price they sell their excess solar for and instant billing settlement.
How do the local power companies control the local power production during an emergency situation?
Everything operates as it does today. Our platform compensates distribution system operators just like retailers do. Power Ledger provides the transactive layer on top of the physical flows, it does not affect the movement of electricity or how the DSO maintains the network.
How will the buyer of someone's surplus power avoid being charged by their distributor/retailer?
We allow application hosts to use the Power Ledger platform to create their own trading environments, we're able to sync their data with ours to ensure there's no 'double pay' situation. Running this via the blockchain means all energy transactions are recorded.
In existing systems a Market Operator is responsible for reconciliation and settlement but in distributed energy markets the blockchain provides fast, trustless settlement so we can pin the financial transaction to the physical transaction.
How exactly is electricity exchanged between the buying and selling households?
It will remain as it is now -- we're not trying to change the laws of physics. Consumers connected to the same embedded networks or the same sections of the regulated distribution network already share energy. Excess solar PV energy is spilled into the network, displacing the need for supply from more traditional sources and being consumed at the closest point of demand. The Power Ledger system makes the financial transaction reflect the physical energy transaction.
Is the peer-to-peer platform secure?
Yes. We only work with "revenue grade" meters — this means that the meters our platform attaches to must comply with the relevant international standards for accuracy and tamper resistance. This adds to the robustness of our already extremely secure blockchain-based application.
How is Power Ledger impacted by the GDPR?
We always align our compliance plans with best practice obligations, which for the area of data protection law is the European Union’s General Data Protection Regulation (GDPR). Certain sections of the GDPR, like the “right to be forgotten” or “right to erasure,” have raised some alarm bells for the blockchain world, as the requirement to delete "personal data" in certain circumstances seems to be conflict with the permanent nature of the blockchain.
We have developed all of our data processing practices in order to remain compliant with the requirements of the GDPR and with similar legislation in other countries around the world, including the data we put on the blockchain.
We will always continue to monitor relevant laws in all of the markets Power Ledger operates in, to ensure ongoing compliance with any relevant laws.
